Illinois Climate Bank’s SSBCI Program

State Small Business Credit Initiative

This program is designed to empower small businesses by improving access to capital, particularly in markets that have historically been underserved or subjected to discrimination. It places a strong emphasis on providing targeted support to Socially and Economically Disadvantaged Communities and Individuals (SEDI) and Very Small Businesses (VSB). Additionally, the program contributes to the Climate Bank Finance’s Participation Loan Program, further enhancing its capacity to address critical funding gaps and promote equitable economic growth.

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Funding

 

Incentive amounts vary based on project type. The program offers very attractive interest rates at 1% or 2% flat per annum, with a maximum tenor of 7 years. The program minimum participation is $25K and maximum participation is up to $2MM.


Administrator

Illinois Climate Bank

Eligible Projects


Eligible projects:

  • Clean air/clean water projects and wastewater treatment
  • Production/installation/servicing of wind/hydro/solar power equipment
  • Production/installation/servicing of electric vehicles and EV charging stations
  • Clean energy generation, alternative fuels, and new battery technologies
  • Energy conservation
  • Biomaterial production and sustainable agricultural practices
  • Broadband expansion for rural and other underserved communities
  • Other efforts providing environmental benefit/counter the impacts of climate change

Borrower Criteria:

  • No more than 750 employees​
  • Must operate in the State of Illinois​
  • Be in good standing with the Illinois Secretary of State​
  • Clear of any back taxes ​
  • No bankruptcies, judgements, or liens in the past 5 years


Building Sector

Small businesses and very small businesses

Process

Contact your preferred Lender and verify that they are an

Approved Lender of the Illinois Finance Authority’s Climate Bank Program. View the list of Approved Lenders.

If you are interested in becoming a Participating Lender, please complete the REQUEST TO BECOME A LENDER form and send back to Francisco Galliano at fgalliano@il-fa.com. Please be sure to include a completed and signed Form W-9 and IRS 147-C Letter.

Advantages

  • Federal program that empowers small businesses to access capital ​
  • Provides increased support for markets that have been disinvested in
  • Focuses on support for Socially and Economically Disadvantaged Communities and Individuals (SEDI) as well as Very Small Businesses (VSB)​
  • Funds the Climate Bank Finance’s Participation Loan Program

Additional Information

N/A